GPS Wealth Strategies Group LLC Has $127,000 Position in Etsy, Inc. (NASDAQ:ETSY)

GPS Wealth Strategies Group LLC cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 17.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,405 shares of the specialty retailer’s stock after selling 520 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Etsy were worth $127,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. UMB Bank n.a. grew its stake in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Etsy in the 3rd quarter worth $43,000. Versant Capital Management Inc lifted its position in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Etsy in the third quarter valued at about $59,000. 99.53% of the stock is owned by institutional investors.

Etsy Trading Down 0.2 %

NASDAQ:ETSY opened at $54.81 on Tuesday. The stock has a market capitalization of $6.17 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 2.69 and a beta of 2.00. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $80.30. The firm has a 50 day moving average of $55.19 and a 200-day moving average of $54.38.

Etsy declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Etsy from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Citigroup dropped their target price on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and increased their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Morgan Stanley cut their price objective on shares of Etsy from $47.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Etsy in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $62.42.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.